Coronavirus (COVID-19): Relief options and Additional Resources

Small Businesses in Alaska Access Nearly $65 Million in SBA Loans to Start, Grow in FY 2019

SBA Alaska District reaches 111 approved loans
Release Date: 
Monday, October 21, 2019
Contact: | 907-271-4027; | 206-604-2957

ANCHORAGE, Alaska – The U.S. Small Business Administration (SBA) Alaska District Office announces FY 2019 lending numbers showing that it guaranteed nearly $65 million to small businesses that otherwise would not have had access to capital. Nationally, SBA loan volume in FY 2019 reached more than $28 billion. 

“Access to capital is consistently one of the top challenges entrepreneurs and small businesses encounter making the SBA Loan Guarantee Program a vital resource to economic growth and job creation,” SBA Pacific Northwest Regional Administrator Jeremy Field said. “In an increasingly digital credit marketplace, the SBA has cut loan processing times in half during the past year and expanded online tools like Lender Match to connect small businesses with the right lender fast.” 

During FY 2019 there were 103 7(a) loans made in the SBA Alaska District, 52,000 nationally. The total dollar amount of 7(a) loans in the SBA Alaska District was $61.7 million and $23.17 billion nationally. The 7(a) program is SBA’s flagship program, which offers guarantees on loans to small businesses up to $5 million on reasonable terms and conditions. 7(a) loans are commonly used for acquiring land, purchasing equipment, or working capital. 

The SBA’s 504 loan program – which provides small businesses with long-term, fixed-rate financing to acquire fixed assets for expansion or modernization – had eight loans with nearly $3.2 million in loan volume in the SBA Alaska District. Nationally, 6,099 loans made for a total dollar amount of more than $4.9 billion. 

“During the past fiscal year in Alaska, we saw an uptick in the number of potential borrowers that accessed the SBA Lender Match program. This indicates local interest in SBA lending programs and that Alaska business owners are researching their options,” SBA Alaska District Director Nancy Porzio said. “We continued to add new lenders to our portfolio and our team will dedicate their efforts to providing access to capital throughout all areas of our great state.” 

The SBA continued to innovate and improve processes by leveraging enhanced technologies. Lender Match is an SBA technology platform that gives entrepreneurs the ability to complete a quick online form, without registration or cost, and be connected with an approved SBA lender within 48 hours. 

To date, Lender Match has generated 4.4 million leads on behalf of small businesses to SBA lenders and more than 230,000 unique borrowers have been contacted by lenders with financing options. 

The following were the top five industries to receive SBA loans in the Alaska by number of approved loans. Industries are categorized using North American Industry Classification System (NAICS) codes: 

Top Industries by Number of Loans 

Industry Number of Loans Loan Volume
1. Accommodation and Food Services 17 $10.7 million 
2. Retail Trade 15 $ 9.2 million 
3. Transportation & Warehousing 11 $8.4 million
4. Health Care & Social Assistance 10 $3.0 million
5. Professional, Scientific, & Tech Services 9 $6.8 million


The following were the top five SBA lenders in Alaska by number of approved loans numbers: 

Top SBA Lenders Based on Number of Approved Loans  

Lender Number of Loans Loan Volume
1. Wells Fargo Bank, N.A. 23 $6.6 million
2. Northrim Bank 20 $5.9 million
3. Alaska Growth Capital 13 $15.0 million
4. Evergreen Business Capital 10 $3.5 million
5. Newtek Small Business Finance, Inc. 8 $10.6 million


For more information about SBA’s loan programs, financial assistance and other services, visit 



About the 7(a) and 504 Loan Programs 

The 7(a) Loan Program is the SBA's primary program for providing financial assistance to small businesses and offers guarantees on loans to small businesses of up to $5 million on reasonable terms and conditions. 7(a) loans are commonly used for acquiring land, purchasing equipment, or working capital. The CDC/504 loan program helps small businesses acquire fixed assets to promote economic development in the form of long-term fixed rate financing for fixed assets on reasonable terms. Under this program, the SBA authorizes CDCs (Certified Development Companies) to provide financing to small businesses with the help of third-party lenders (typically banks). The maximum loan amount is generally $5 million; however, certain eligible energy-efficient or manufacturing projects may qualify for more than one 504 loan up to $5.5 million each. 

About the U.S. Small Business Administration 

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit The Alaska District Office serves the entire state with office locations in Anchorage and Fairbanks.